Gary Lamb, Manx’s chief executive, says the telecoms arm generates cash, pays dividends and invests in infrastructure but with a very stable population there is not much opportunity to grow the business.

Tech start-up

That was why Vannin Ventures was established in 2016.

While a 100%-owned subsidiary, it is a deliberately separate operation to the telco operation.

Vannin’s most recent significant investment (after its first investment in Partitionware) is a 67% stake in Goshawk, the company that invented the hearing loss solution.

Lamb says the Isle of Man is an ideal place to develop technology.

The island was the first to introduce 3G, for example, while a captive population of 85,000 is an perfect testing ground for new products.

And that is what Manx is doing with Goshawk.

Trials have been ongoing for some months to an enthusiastic response - 89% of those taking part said it would help.

Formal launch

A formal launch took place the island last month ahead of a roll-out into the UK mainland over the EE network in 2019.

And as impressive as the tech are the projected numbers if all goes to plan.

Lamb believes Vannin’s revenues can eventually outstrip those of Manx.

There are 3mln people in the UK with moderate to severe hearing problems, he says, and within five years Lamb wants to have a fifth of these or 600,000 as customers.

Pricing is likely to be between £15-20 per month, which is £180 per year at the lower end,

Manx Telecom is the leading communication solutions provider on the Isle of Man. The Group offers a wide range of fixed line, broadband, mobile and data centre services to businesses, consumers and the public sector on the Isle of Man. The Group also provides a growing portfolio of innovative solutions to offshore customers.

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